DUMB MONEY
US, 2023, 105 minutes, Colour.
Paul Dano, Pete Davidson, Vincent D’Onofrio, America Ferrera, Myha'la Herrold, Nick Offerman, Anthony Ramos, Seth Rogen, Talia Ryder, Sebastian Stan, Shailene Woodley, Kate Burton, Clancy Brown, Larry Owens, Dane de Haan, Olivia Thirlby.
Directed by Craig Gillespie.
Unless you are very well versed in the details of the financial world, the business world, stock exchange, familiar with the language of shares and trading, you may find it somewhat difficult to follow this story in detail. There has been quite a long tradition of American films about the financial world, even before the 1980s and Wall Street. We have seen the back rooms in Margin Call, the higher-life exploiters like The Wolf of Wall Street, a number of television films about the financial crisis of 2008, ironic pictures like The Big Short. Dumb Money is in this vein.
Most of us may have missed this true story from 2020-2021, particularly American (and we may have been more preoccupied with pandemic issues and limitations). But, as promotion tells us, this is something of a David and Goliath story. And it is a true story – and, after we have been both alarmed and exhilarated looking at these characters and the financial dealings, there is some satisfaction/alarm in seeing photos, videos, testimony with the actual people during the credits.
For those not in the know, so many of us, the phrase Dumb Money refers to funds invested by smaller individuals and groups, those whom the high flyers would generally despise and, probably, ignore. One of these is Keith Gill, a family man, a job, but in his spare time very interested in finance, stock exchange movement, investments, profits, hedge funds… He becomes interested in a particular company, GameStop, which does not seem to be doing well, invests, but Keith is also an influencer, with his own online program, quite a following, students, employees in shops, who have interest in finance and are looking for opportunities to invest. And, his followers trust him, and as long as he does not sell, they don’t. The value of the company rises, as they say, exponentially (or even more so).
Keith Gill, whose online tag is Roaring Kitty, is from Brockton Massachusetts, working on his computer in a back room, but thorough and meticulous in his research and communication. He is played by the very versatile Paul Dano, his wife by Shailene Woodley. And there are a number of younger character actors playing the range of investors, including Anthony Ramos and America Ferrera. And there are a lot of home scenes to balance the financial world, Keith and his interacting with his offhand brother, Kevin, comically played by Pete Davidson.
But the film also takes us into the high life of the hedge fund entrepreneurs, the powerful men who can draw on billions at beck and call, who are so confident, unspoiled, that they take no notice and then underestimate the financial David’s of this story. And, strong cast here with Seth Rogen, Nick Offerman, Vincent D’Onofrio, Sebastian Stan.
On the one hand, there is the comic atmosphere of Keith Gill’s home life, especially family sequences with his parents (Clancy Brown and Kate Burton), his interchanges with his carefree brother. On the other hand, there is the tension of movements on the stock exchange, holding to one’s convictions, not selling, hugely increasing profits, the danger of their being targeted and falling. And, in the background, government investigations about manipulation of the money market.
Keith Gill testified before Congress committee – as did the high flyers, Keith with a strong prepared statement – well accepted, the high flyers replying on subterfuge – and failing.
(There is a lot of coarse language throughout the film – and this is something of an understatement – as well as some particularly crass lyrics of songs which are playing throughout the action. The Australian classification notes: Strong coarse language.)
- The title, the tone, the judgement about investments?
- The 2020 setting, the background of Covid, the financial world dealing with the epidemic? The role of the Internet? Companies, games companies, networks, shrewd observers and investors, their moves?
- Homes and characters, offices, online activity, official meetings, finance, politics, legal?
- Keith Gill, life at home, scenes with his parents, his wife and her support, his job? Online, visiting the sights? You Tube and advice, “Roaring captivity”? His relationship with his brother, Kevin and his mocking his brother, the borrowing of the car?
- 2020, the games company, the investments, difficulties, reading the signs, Keith and his savings, advice for the friends and the online supporters? Success?
- The portrait of the big finances, Gabe Plotkin and his company, threats, sales, plans? Confidence, manoeuvres, discussions amongst themselves, the contacts and advice?
- Keith and his followers, Marcos and his work in the store, Rin and Harmony and their life together? Jennifer and her savings? The tension for them, investments and risks, there watching U-tube, they’re trusting Keith? Tested?
- Selling, waiting, finding the right time, Keith and his wife, the followers, selling, buying again? The complexities?
- The US House Committee on Financial Services, the interest in the case, a subpoena for all the main people, the heads of the companies, the interrogations?
- Keith, his being interrogated, his stances, convictions, legalities?
- The results, Keith and his security, his relationship with his brother and parents, the car for Kevin? The followers online and the success and security?
